It's NOT a 'bailout,'

it's a loan. The domestic auto industry is asking for a commercial loan, and make no mistake about this: it is essential for the short- and long-term health of our country and its economy.

If we were in better times, I might agree that we could let the industry fail, so that the workers might seek employment in other, newer, greener industries. But there are a few problems with that scenario:
1) Times are hard already. There are no other jobs for those millions who work in and support the auto industry (machinists, assembly-line workers, engineers, management, sales staffs in every small town in the country, parts manufacturers, etc). And not only are there no jobs, there is no viable social support network left after eight years of Bushcheney mismanagement. Most of those people are living paycheck-to-paycheck already.
2) Other jobs aren't there for them because these new greener industries haven't been given infrastructure support from government, for the simple reason that we've given all of that infrastructural support to the auto industry for the past eighty years or so. It would be great if all those people could find work making and selling wind turbines, or in recycling, or green energy, but let's face it: there are simply not enough jobs in those industries to go around. Yet, anyway: maybe if our government started showing some long-term support for such industries, this would change, but that's not something we can bank on in the short term. And here, the short term matters. Should these millions of workers suddenly find themselves out of work, it won't be long before they'll be unable to feed themselves and their families, and soon enough they'll be on the street, unable to care for even a common cold. It's not hard to imagine the impact of a potential flu epidemic on a situation like that. Not hard to imagine, but terrifying all the same. Remember 1918.
3) A collapse of our auto industry will affect every corner of the country, no matter how remote. Nearly every town in this country has a car dealership, not to mention automotive supply stores. Every state in this country depends desperately on taxes from new vehicles and vehicle sales. Unemployment will go through the roof, everywhere, while tax revenue will dwindle. That of course means a rise in demand for government support exactly when the government will be least able to provide it.

No one -I repeat: no one- would be served well by letting this industry fail. Don't get me wrong: I'm no fan of cars or big industry. But the magnitude of the short-term disaster would be such that we as a country might never recover. Millions of jobs will be lost. Millions of families will be affected- losing their health care, their health, their homes, their sense of well-being. These CEOs are not asking for a handout. They're not looking for free money. They're asking for a loan, something they can pay back (like Chrysler did, and quite unlike AIG or Goldman-Sachs ever will). How can we deny them that?